How to Make the Most of Your Tax Refund in 2022

Splurging may be fun, but if you really want to treat yourself, here are two smart places to start. (Hint, they’re not as fun, but they will pay off in the long run.)

A man holds his hand out, palm up, as $20 bills float all around.
(Image credit: Getty Images)

Despite the tediousness of filing taxes each year, for a large percentage of the population, receiving a tax refund can make it worth the trouble. In 2021, the IRS issued 129 million refunds with the average tax refund sitting at $2,873. While it is easy to view a tax refund as free money or a reward, it is important to remember that it is your hard-earned money that was withheld from your paychecks throughout the year.

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Josh Sailar, CFP®, CPFA
Partner, Blue Zone Wealth Advisors

Josh Sailar is an investment adviser and partner at Blue Zone Wealth Advisors, an independent registered investment adviser in Los Angeles. He specializes in constructing and managing customized advanced plans for business owners, executives and high net worth individuals. He holds the designations of Certified Financial Planner (CFP®) and Certified Plan Fiduciary Advisor (CPFA), the FINRA Series 7, 63, 65 licenses, as well as tax preparer license.